The acceptance of a personal check pursuant to this section constitutes payment of the obligation to the extent of the amount of the

check as of the date of acceptance when, but not before, the check is duly paid.

This statement most nearly means that if a check is accepted, the obligation will be considered paid when:

the check is accepted as payment once duly paid

the check is paid regardless of when it was accepted

cash is paid but not when a check is written

the check is accepted regardless of other factors